Arihant Academy Acquires Carmel Classes in USD 1.2 Mn Deal to Strengthen Mumbai Presence The acquisition will enable Arihant to expand its offerings for students in Std. VIII to XII, covering not only school board preparations but also professional courses like CA, CS, and IELTS.
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Arihant Academy, a NSE-listed educational institution, has announced the acquisition of a 100% stake in Carmel Classes and Carmel Tuitions in a deal valued at USD 1.2 million. This strategic consolidation marks a major expansion move for Arihant Academy as it strengthens its presence in Vasai and the broader Mumbai region.
The acquisition includes the infrastructure of nearly 30 Carmel classrooms and a student base exceeding 2,000 learners, significantly enhancing Arihant's footprint and market share. This move is set to further reinforce Arihant's leadership in Mumbai's educational landscape by integrating a broader curriculum and a wider range of academic offerings.
Carmel Classes, founded in 1994, has been a reputed coaching institute for over three decades, known for delivering quality education across State Board, CBSE, and ICSE. The institute also offers specialised programs in Commerce, Arts, and IELTS. The acquisition will enable Arihant to expand its offerings for students in Std. VIII to XII, covering not only school board preparations but also professional courses like CA, CS, and IELTS.
Anil Kapasi, Co-founder of Arihant Academy, said, "The strategic integrations mark a significant milestone in our journey. Carmel Classes under Shibu Sir's leadership has built a strong legacy, and we are honoured to take it forward. Together, our combined expertise and tech-driven education methods will create a holistic and enriched learning experience for students."
Shibu Nair, the founder of Carmel Classes, added, "Since our inception, our goal has been to provide quality education. Joining forces with Arihant Academy will give our students access to enhanced digital platforms, experienced faculty, and a vast academic network."
Arihant Academy currently operates over 20 coaching centers, serving nearly 10,000 students across Mumbai. With this acquisition, the company aims to deepen its penetration in Vasai and boost enrollment in the coming years. Plans are also underway to launch additional courses and professional programs to cater to evolving student demands.
This acquisition aligns with Arihant's vision of creating a comprehensive and future-ready education ecosystem, blending traditional classroom teaching with digital tools, while continuously scaling to meet regional and national demand.
